Creation of an Annual Scholarship Fund at U of D Jesuit

University of Detroit Jesuit High School & Academy is often approached by donors who wish to support an annual scholarship which will provide financial aid to qualified U of D Jesuit students. These scholarship awards are made by the Financial Aid Committee based on established criteria. This brochure describes an opportunity to sponsor a student for a four year pledge of $10,000 per year, which enables sponsors to be matched with a current student.

Full Scholarship Funding 
An annual donation of $10,000 covers the costs of a student's tuition and fees for one year. Once we enroll a qualified student on financial aid, we want to ensure his family that he will be sponsored for his entire career at U of D Jesuit. This is why a four year pledge is required for a sponsor to be assigned a student.

Student Match 
The Financial Aid Committee will match every scholarship sponsor with a student. Our goal is to match the same student to a sponsor for his entire high school career. ICOC sponsors meet their student and his family at the annual Prayer Service and Dinner in the fall. In addition, the student assigned will communicate with the sponsor periodically throughout the academic year. Scholarship students must maintain a 2.25 grade point average to continue to receive their scholarship.

Testimonials
U "I have enjoyed meeting the recipients of the scholarship and receiving communiqués updating their activities and progress at U of D Jesuit.  I am impressed with the caliber of the students who are receiving our support and know they will flourish, continue their studies, and become "Men for Others". Mrs. William J. Oldani, Widow of Alumnus, William J. Oldani '30, and Scholarship Sponsor for six years.

"Imagine our class with 60 less students. That is how many students received financial assistance in the Class of 2008. I would not be here without my Ignatian Circle of Care sponsor. The many generous donors to U of D Jesuit are the reason we have such a diverse and interesting student experience." Jeremy Bass, '08, Junior at Amherst College and former scholarship recipient.

For more information please contact
Thomas O'Keefe, '64,
Vice President of Institutional Advancement
at 313/927-2342 or Email Thomas O'Keefe

Back to top

Creation of an Endowed Ignatian Circle of Care (ICOC) Scholarship Fund at U of D Jesuit

University of Detroit Jesuit High School & Academy is often approached by donors who wish to create a named scholarship fund which will provide scholarship funding to deserving U of D Jesuit students. It is anticipated that scholarship awards will be made by the school administration, based on the school's established criteria. A fully-funded named scholarship has an invested total of $200,000. There are several ways to provide scholarship funding and to work toward the fully-funded level, which are discussed below.

Endowment Scholarship Funding
Once an endowment is established, a portion of the investment income is available for spending, while the remainder is added to principal to increase the fund over time and safeguard against inflation. Our current endowment spending policy allows for spending up to 5% of the average market value of the endowment as calculated for the three calendar years prior to the beginning of the fiscal year.

If you are able to help us, we welcome your interest and offer the following guidelines:

Administration of Ignatian Circle of Care Scholarship Funds
U of D Jesuit will deposit gifts for a named scholarship fund into the school's investment account(s). The funds will be commingled with many other endowment gifts and are
professionally managed. Depending on the size of the fund, there may be disbursements from the fund or earnings may be attributed to the fund.

Minimum to initiate an Endowed ICOC Scholarship Fund
We will begin a named fund with an initial pledge of at least $50,000 and an initial gift of $10,000 toward that pledge.  

Suspense Funds: Scholarship Funds with Principal between $10,000 and $20,000 
When a named fund is initiated, the school intends to keep administration as simple as possible. With this end in mind, there will be no disbursements charged against the fund and no earnings specifically attributed to it. This reflects a mutual recognition that the donors intend to add to the fund to reach a level where it generates enough earnings to begin disbursing scholarship awards. We refer to this protected, growing fund as a "suspense fund." This practice of neither charging expenses nor attributing earnings will be applied to a fund as long as there appears to be growth in the fund. If, over a number of years, it becomes clear that the fund is not growing, the school may ask the
donor to merge the fund into the larger endowment. An annual report will indicate the status of the fund.

ICOC Scholarship Funds with Principal between $20,000 and $200,000
When a named scholarship fund reaches the threshold level of $20,000, we will treat the funds in the following manner: a pro rate share of the endowment earnings will be attributed to the fund; five percent of the principal will be disbursed as scholarships; and the disbursement will be charged against the principal of the fund. An annual report to the donor will indicate the status of the fund. Named funds between $20,000 and $200,000 pay at least one "partial" scholarship.

Full endowment: ICOC Scholarship Funds at $200,000 or more
When a fund grows to $200,000, it would be considered fully endowed and would pay at least one full scholarship award. (This may or may not be full tuition, depending on the school policy at the time, the prevailing tuition, and the financial need of the student and his family). An annual report will indicate the status of the fund. The fund would also be permanently listed in the annual President's Report and on the donor recognition wall.

To date there are some fifty named scholarships at U of D Jesuit. Support for most scholarships have come from generous individuals, families and foundations. If you would like to contribute to one of these scholarships please Donate Online and make sure to put the name of the scholarship in the comments section.

For more information please contact
Thomas O'Keefe, '64,
Vice President of Institutional Advancement
at 313/927-2342 or Email Thomas O'Keefe

Back to top